July 14,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Transfer Switch Market.
Transfer Switch Market is likely to witness an impressive CAGR of 6.3% during the forecast period. The market is expected to be driven by ongoing reforms in developed economies aimed at replacing traditional generating technologies with sustainable energy sources. Due to an increase in investments in large-scale renewable capacity integration, the industry has seen a substantial reversal in recent years.
Transfer switch is an electrical switch which transfers the load across two power sources. It prevents any type of overlap and in case of an outage gives a direct and modest method of powering critical functions, comfort solutions, lights, and emergency equipment.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the operation type, the market is segmented as manual, non-automatic, automatic, and by-pass isolation. The manual switch market is expected to lead owing to fast commercialization and residential establishments across developing economies mixed with the growing apprehensions relating to energy safekeeping. In addition, current disposition of critical operation power systems is likely to further stimulate the product demand during the forecast period.
Based on the ampere rating type, the market is segmented as ≤ 400, 401 to 1600, and 1600. ≤ 400 Ampere transfer switch is expected to be the leading type during the forecast period owing to the swelling demand for rural electrification in various developing countries. Furthermore, regular voltage fluctuations accompanied with instable phase change processes in residential as well as small scale industrial institutions is expected to boost the market growth during the forecast period.
Based on the installation type, the market is segmented as emergency systems, legally required systems, critical operation power systems, and optional standby systems. Critical operations power system is expected to be the leading type during the forecast period. The concerns surrounding reliability across government amenities, along with national security, is expected to boost the market growth during the forecast period.
In terms of regions, North America is estimated to be the leading region in the market, during the forecast period, on account of the advancing replacement demand for present grid infrastructure. Europe and the Asia-Pacific region are also expected to witness significant growth over the forecast period.
- DynaGen Technologies, Inc.
- Vertiv Holdings Co.
- Briggs Stratton Corporation
- Caterpillar Inc.
- Eaton Corporation plc
- Generac Holdings Inc.
- General Electric
- Kohler Co.
- Schneider Electric SE.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Transfer Switch Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors